A woman is wearing Nike shopping bags at the Citadel Outlet mall, while the global outbreak of coronavirus disease (COVID-19) continues in Commerce, California, USA, December 3, 2020.
Lucy Nicholson | Reuters
Nike on Friday reported quarterly sales and earnings that exceeded analysts’ estimates, driven by three-digit online growth in North America and strong demand for sneakers and training clothing from Chinese consumers.
Its shares increased by more than 5% when trading after the program.
Here’s how the company did during the second fiscal quarter, compared to what analysts expected, based on Refinitive data:
- Earnings per share: 78 cents compared to 62 cents, expected
- Revenue: $ 11.24 billion compared to $ 10.56 billion, expected
For the three-month period ended November 30, Nike reported net income of $ 1.25 billion or 78 cents per share, up from $ 1.12 billion or 70 cents a year. before. Analysts demanded earnings of 68 cents per share.
Revenues increased 9% year-over-year to $ 11.24 billion, up from $ 10.33 billion a year ago. This was better than the $ 10.56 billion expected by analysts.
Nike said its digital sales for its namesake brand rose 84 percent in the quarter as more shoppers visited its site during the pandemic to buy sportswear and footwear to maintain its fitness and health routine. personal.
At the close of the market on Friday, Nike shares rose more than 37% this year. The company has a market cap of $ 215.5 billion.
Find the full Nike press release here.
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